Trump Signs Executive Order for Global Tariffs
The President's directive aims to impose reciprocal tariffs on imports from countries worldwide.
On Wednesday, U.S. President Donald Trump announced a historic executive order that will impose 'reciprocal tariffs' on imports from countries around the globe.
In a speech delivered at the White House, Trump stated, 'I will sign within a few minutes a historic executive order imposing reciprocal tariffs on (imports from) countries worldwide.' He described reciprocal tariffs as a straightforward concept: 'What they do to us, we do to them.'
The Republican President characterized the initiative as one of the most significant days in American history, referring to it as both an 'economic declaration of independence' and a 'liberation day' for the United States.
During his address, Trump criticized international trading partners, accusing them of exploiting the U.S. economy for decades through high tariffs on American exports.
As part of the new provisions, Trump announced that he would impose a 25% tariff on imported vehicles, effective at midnight following the announcement.
Specific reciprocal tariff rates were detailed for several countries: 34% on China, 32% on Indonesia and Taiwan, 20% on the European Union, 46% on Vietnam, 24% on Japan, and 10% on Singapore.
The lowest tariff rate established was set at 10%.
The President urged nations to eliminate tariffs and purchase American products, projecting that this move would generate $6 trillion in investments for the U.S., with expectations for a significant increase by the end of the year.
Concerns have been raised about the potential impact of these tariffs on the global economy, particularly given that the U.S. imported approximately $3.3 trillion worth of goods in 2024. Following the announcement, the U.S. dollar experienced a decline of 1% against the euro.
The base tariff rate was provisionally set at 10% for all countries, with heightened rates for specific nations including Cambodia at 49%, Vietnam at 46%, and Thailand at 36%.
Additional rates included 34% for China, 32% for Indonesia and Taiwan, 31% for Switzerland and India, 29% for Pakistan, 24% for both Japan and Malaysia, and 20% for the European Union.
Other countries were listed with lower rates, including Israel and the United Kingdom at 17% and 10%, respectively.
A senior White House official confirmed that the reciprocal tariffs will come into effect on April 9, while the minimum tariff rates will begin on April 5. Specific emphasis was placed on higher tariffs for four Arab nations: Iraq at 39%, Algeria at 30%, Tunisia at 28%, and Jordan at 20%.
In contrast, tariffs on Egypt, Saudi Arabia, Morocco, the UAE, and Qatar were set at 10%.
In a speech delivered at the White House, Trump stated, 'I will sign within a few minutes a historic executive order imposing reciprocal tariffs on (imports from) countries worldwide.' He described reciprocal tariffs as a straightforward concept: 'What they do to us, we do to them.'
The Republican President characterized the initiative as one of the most significant days in American history, referring to it as both an 'economic declaration of independence' and a 'liberation day' for the United States.
During his address, Trump criticized international trading partners, accusing them of exploiting the U.S. economy for decades through high tariffs on American exports.
As part of the new provisions, Trump announced that he would impose a 25% tariff on imported vehicles, effective at midnight following the announcement.
Specific reciprocal tariff rates were detailed for several countries: 34% on China, 32% on Indonesia and Taiwan, 20% on the European Union, 46% on Vietnam, 24% on Japan, and 10% on Singapore.
The lowest tariff rate established was set at 10%.
The President urged nations to eliminate tariffs and purchase American products, projecting that this move would generate $6 trillion in investments for the U.S., with expectations for a significant increase by the end of the year.
Concerns have been raised about the potential impact of these tariffs on the global economy, particularly given that the U.S. imported approximately $3.3 trillion worth of goods in 2024. Following the announcement, the U.S. dollar experienced a decline of 1% against the euro.
The base tariff rate was provisionally set at 10% for all countries, with heightened rates for specific nations including Cambodia at 49%, Vietnam at 46%, and Thailand at 36%.
Additional rates included 34% for China, 32% for Indonesia and Taiwan, 31% for Switzerland and India, 29% for Pakistan, 24% for both Japan and Malaysia, and 20% for the European Union.
Other countries were listed with lower rates, including Israel and the United Kingdom at 17% and 10%, respectively.
A senior White House official confirmed that the reciprocal tariffs will come into effect on April 9, while the minimum tariff rates will begin on April 5. Specific emphasis was placed on higher tariffs for four Arab nations: Iraq at 39%, Algeria at 30%, Tunisia at 28%, and Jordan at 20%.
In contrast, tariffs on Egypt, Saudi Arabia, Morocco, the UAE, and Qatar were set at 10%.
